For the Indian startup ecosystem, 2021 is turning out to be the year of the unicorn. The latest entrant is B2B manufacturing startup Zetwerk, which has raised $ 150 million in the Series E cycle for a valuation of $ 1.33 billion.
The round was led by New York-based D1 Capital with venture capital firm Avenir and Mumbai-based IIFL Asset Management Ltd as new investors. Existing investors, including Sequoia Capital, Lightspeed Venture Partners and Greenoaks Capital, also participated in the round.
The Bengaluru-based company will invest the funding in research and development, team building and expansion into new geographies – which Zetwerk co-founder and CEO Amrit Acharya had spoken about in a previous conversation with Your story.
2021 has exceeded all projections for funding and unicorn emergence. This month, CoinDCX even became the first Indian crypto startup to become a unicorn.
Last month, the inflow of capital reached $ 6 billion, or 60% of the amount raised in the first six months of the year.
Read all about how the Indian startup ecosystem is battling the second wave of COVID-19 here.
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You can also share a tribute to the warriors, saviors and survivors of COVID-19 here.
As e-commerce has grown exponentially, the pandemic has given the industry a silver lining and accelerated the pace of growth.
Three vendor representatives from the 350,000+ MSME community on Flipkart, along with Jagjeet Harode, Senior Director and Marketplace Manager, Flipkart, provide insight into the changing dynamics of the digital commerce landscape and why the pandemic has restored the value of e-commerce to small and medium-sized retailers across India.
Editor’s Pick: Techie Tuesday
For Devang Mundhra, technology is just a tool for solving real-world problems, which he focuses on while developing expertise.
He joined fintech start-up KredX as Vice President – Engineering, he is now its Chief Technology and Product Officer (CTPO), striving to become one of the largest providers of treasury solutions in India. Read more.
Using wearable technology to improve muscle strength
In 2016, Anmol Ajay Saxena suffered from knee pain, which led her to realize the potential of physiotherapy to help people with chronic skeletal illnesses or injuries.
Thus, she founded Ashva WearTech (Ashva Wearable Technologies) based in Hyderabad in 2019 to democratize musculoskeletal care using wearable technologies. Its product Fitknees is a sensor-based knee injury monitoring platform that helps patients track progress. Read more.
Illustration: YS Design
Before leaving, stay inspired with …
âA business is nothing more than a collection of people. We build technology, intellectual property, etc., but ultimately it’s the people who drive the business forward.
– Amrit Acharya, co-founder and CEO, Zetwerk
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